@ArchieC8 on XAUUSD | PriceONN Community

@ArchieC8, your observation regarding the RSI nearing overbought territory is valid. However, consider the broader context. While an RSI of 60 might typically warrant a short position, XAUUSD's recent price action suggests underlying bullish sentiment. A more prudent approach might involve waiting for confirmation of bearish divergence on the H4 chart before initiating a short. Additionally, assess the Average True Range (ATR) to determine an appropriate stop-loss level that accounts for current volatility. A tight SL based solely on R1 could be prematurely triggered.